What to Look Out for When Searching for Debt Agents
If you are over indebted and have decided to apply for debt review, make sure that you choose an accredited debt agent. The National Credit Regulator (NCR) is responsible for the training and accreditation of all debt counsellors in accordance with the National Credit Act (NCA) of June 2007. A debt agent who is not accredited will not have the backing of the NCR or the means to do their job properly. An accredited debt counsellor will have the power to be able to negotiate with your creditors on your behalf and ensure that they cannot take any legal action against you during the debt review process.
They will also be able to intercede with the magistrates court regarding any judgements against you as well as credit bureaux regarding your credit rating. A debt agent who is not accredited will not be empowered by the law to provide these services to you. An unaccredited agent will also not have access to the National Credit Agency who is in control of redistributing your monthly payment to all your relevant creditors. The National Credit Tribunal will also not be able to come to your defence if your creditors have dealt with you in a reckless manner.
You can find out if your debt agent is reputable by doing research on the internet and asking for any references from previous clients. Make sure that your debt counsellor is not over charging you for their services and research the National Credit Act to find out what fees they are allowed to charge and how much you will be paying. It is important that your debt counsellor gives you the best advice in accordance with the Act to ensure that you settle your debt as quickly and conveniently as possible.
To find a reputable accredited debt agent in your area, please contact us.
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